{"id":627857,"date":"2024-07-04T18:30:31","date_gmt":"2024-07-04T18:30:31","guid":{"rendered":"https:\/\/wncen.com\/?p=627857"},"modified":"2024-07-04T13:21:50","modified_gmt":"2024-07-04T13:21:50","slug":"bitcoin-closes-cme-gap","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin\/bitcoin-closes-cme-gap\/","title":{"rendered":"Bitcoin Closes CME Gap, Expert Predicts What Happens Next"},"content":{"rendered":"

Crypto expert Michael van de Poppe<\/span><\/a> has highlighted an important indicator which suggests that Bitcoin could make a crucial bounce from its current price level. This follows the flagship crypto\u2019s <\/span>recent decline below $60,000<\/span><\/a>.\u00a0<\/span><\/p>\n

BTC’s CME Gap Has Closed<\/h2>\n

Van de Poppe revealed in an X (formerly Twitter) <\/span>post<\/span><\/a> that <\/span>Bitcoin\u2019s CME gap<\/span><\/a> has closed and added that it is time for the crypto token to enjoy a relief bounce from its current price level. From the chart he shared, <\/span>Bitcoin<\/span> will reclaim $60,000 as support before moving further to the upside.\u00a0<\/span><\/p>\n

Related Reading: Shiba Inu Starts July On A High Note: Burn Rate Surges 16,854%, Trading Volume Rises 170%<\/a><\/p>\n

\"\"
Source: X<\/figcaption><\/figure>\n

Crypto analyst Mkybull Crypto<\/span><\/a> also confirmed that the CME gap has been filled. Like Van de Poppe\u2019s prediction, the analyst expects Bitcoin to reclaim the $60,000 range and possibly continue its upward trend. Mikybull Crypto revealed that Bitcoin has completed its inverse head-and-shoulder pattern on the daily chart. He predicted that the flagship crypto could reach a minimum breakout target of $70,000 when it successfully breaks out above $62,000.\u00a0<\/span><\/p>\n

\"BTC
Source: X<\/figcaption><\/figure>\n

Mikybull Crypto also mentioned that the <\/span>Moving Average Convergence\/Divergence<\/span><\/a> (MACD) indicator indicates that a bullish cross is imminent for Bitcoin. He noted that this indicates strength for the flagship crypto and that its price is poised to rise. The crypto analyst is also undeterred by Bitcoin\u2019s recent underperformance as he is confident that a parabolic rally will soon enough.\u00a0<\/span><\/p>\n

 <\/p>\n

\"Bitcoin
Source: X<\/figcaption><\/figure>\n

Contrary to what some might think, he claimed that the <\/span>cycle top<\/span><\/a> isn\u2019t in yet and that this is simply a \u201cfinal shakeout\u201d before the market top is in. Based on the chart he shared, he predicts that Bitcoin will still climb above $100,000 and possibly reach $130,000. The analyst had <\/span>previously mentioned<\/span><\/a> between $138,000 and $150,000 as \u201coptimal targets for Bitcoin in this <\/span>bull run.<\/span><\/a>\u201d<\/span><\/p>\n

\"BTC
Source: X<\/figcaption><\/figure>\n

What Next For Bitcoin?<\/h2>\n

With Bitcoin failing to hold above $60,000, the bearish calls are becoming louder in the crypto community. Some predict that the flagship crypto could <\/span>drop to the $40,000 range<\/span><\/a> soon enough. Crypto analyst CrediBULL Crypto <\/span>claimed<\/span><\/a> that \u201cthere is still a lot that must be done\u201d for Bitcoin to drop that range, suggesting that it is unlikely to happen anytime soon.\u00a0<\/span><\/p>\n

Related Reading: XRP Price Attempts Bullish Decoupling Amid Major Developments<\/a><\/div>\n

He also provided insights into what will likely happen to Bitcoin at its current price level. According to <\/span>CrediBULL Crypto<\/span><\/a>, there is a chance that Bitcoin will wick the $58,000 low, hold a higher low above the $56,000 low, and then reverse from there. He further raised the possibility of Bitcoin dropping into the <\/span>$53,000 demand area<\/span><\/a> if the $56,000 lows are breached.\u00a0<\/span><\/p>\n

Additionally, the crypto analyst mentioned that $40,000 could become possible if Bitcoin fails to hold above $53,000. However, he believes this scenario of Bitcoin dropping to $40,000 is \u201cthe least likely to actually play out.\u201d He remarked that this isn\u2019t something anyone should be placing \u201cheavy weight on at <\/span>this time<\/span><\/a>.\u201d<\/span><\/p>\n

\"Bitcoin
BTC falls to $57,000 | Source: BTCUSD on Tradingview.com<\/a><\/figcaption><\/figure>\n
Featured image created with Dall.E, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Crypto expert Michael van de Poppe has highlighted an important indicator which suggests that Bitcoin could make a crucial bounce from its current price level. This follows the flagship crypto\u2019s recent decline below $60,000.\u00a0 BTC’s CME Gap Has Closed Van de Poppe revealed in an X (formerly Twitter) post that Bitcoin\u2019s CME gap has closed and added that it is time for the crypto token to enjoy a relief bounce from its current price level. From the chart he shared, Bitcoin will reclaim $60,000 as support before moving further to the upside.\u00a0 Related Reading: Shiba Inu Starts July On A High Note: Burn Rate Surges 16,854%, Trading Volume Rises 170% Crypto analyst Mkybull Crypto also confirmed that the CME gap has been filled. Like Van de Poppe\u2019s prediction, the analyst expects Bitcoin to reclaim the $60,000 range and possibly continue its upward trend. Mikybull Crypto revealed that Bitcoin has completed its inverse head-and-shoulder pattern on the daily chart. He predicted that the flagship crypto could reach a minimum breakout target of $70,000 when it successfully breaks out above $62,000.\u00a0 Mikybull Crypto also mentioned that the Moving Average Convergence\/Divergence (MACD) indicator indicates that a bullish cross is imminent for Bitcoin. He noted that this indicates strength for the flagship crypto and that its price is poised to rise. The crypto analyst is also undeterred by Bitcoin\u2019s recent underperformance as he is confident that a parabolic rally will soon enough.\u00a0   Contrary to what some might think, he claimed that the cycle top isn\u2019t in yet and that this is simply a \u201cfinal shakeout\u201d before the market top is in. Based on the chart he shared, he predicts that Bitcoin will still climb above $100,000 and possibly reach $130,000. The analyst had previously mentioned between $138,000 and $150,000 as \u201coptimal targets for Bitcoin in this bull run.\u201d What Next For Bitcoin? With Bitcoin failing to hold above $60,000, the bearish calls are becoming louder in the crypto community. Some predict that the flagship crypto could drop to the $40,000 range soon enough. Crypto analyst CrediBULL Crypto claimed that \u201cthere is still a lot that must be done\u201d for Bitcoin to drop that range, suggesting that it is unlikely to happen anytime soon.\u00a0 Related Reading: XRP Price Attempts Bullish Decoupling Amid Major Developments He also provided insights into what will likely happen to Bitcoin at its current price level. According to CrediBULL Crypto, there is a chance that Bitcoin will wick the $58,000 low, hold a higher low above the $56,000 low, and then reverse from there. He further raised the possibility of Bitcoin dropping into the $53,000 demand area if the $56,000 lows are breached.\u00a0 Additionally, the crypto analyst mentioned that $40,000 could become possible if Bitcoin fails to hold above $53,000. However, he believes this scenario of Bitcoin dropping to $40,000 is \u201cthe least likely to actually play out.\u201d He remarked that this isn\u2019t something anyone should be placing \u201cheavy weight on at this time.\u201d Featured image created with Dall.E, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":627895,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651],"tags":[428,656,679,1119,89185,1122,1144,78790,6664,90232,14690,91847],"class_list":["post-627857","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-bitcoin","tag-bitcoin-news","tag-bitcoin-price","tag-btc","tag-btc-news","tag-btc-price","tag-btcusd","tag-btcusdt","tag-crypto","tag-crypto-expert","tag-crypto-news","tag-expert"],"acf":[],"yoast_head":"\nBitcoin Closes 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Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers. Scott\u2019s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott\u2019s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life. With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/wncen.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Closes CME Gap, Expert Predicts What Happens Next","url":"http:\/\/wncen.com\/news\/bitcoin\/bitcoin-closes-cme-gap\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin\/bitcoin-closes-cme-gap\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/07\/Bitcoin-gap.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/07\/Bitcoin-gap.jpeg?fit=1792%2C1024"},"articleSection":"Bitcoin","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin news","bitcoin price","btc","btc news","btc price","btcusd","btcusdt","crypto","crypto expert","crypto news","expert"],"dateCreated":"2024-07-04T18:30:31Z","datePublished":"2024-07-04T18:30:31Z","dateModified":"2024-07-04T18:30:31Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Closes CME Gap, Expert Predicts What Happens Next\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin\\\/bitcoin-closes-cme-gap\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin\\\/bitcoin-closes-cme-gap\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/07\\\/Bitcoin-gap.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/07\\\/Bitcoin-gap.jpeg?fit=1792%2C1024\"},\"articleSection\":\"Bitcoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin news\",\"bitcoin price\",\"btc\",\"btc news\",\"btc price\",\"btcusd\",\"btcusdt\",\"crypto\",\"crypto expert\",\"crypto news\",\"expert\"],\"dateCreated\":\"2024-07-04T18:30:31Z\",\"datePublished\":\"2024-07-04T18:30:31Z\",\"dateModified\":\"2024-07-04T18:30:31Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/07\/Bitcoin-gap.jpeg?fit=1792%2C1024","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/627857"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=627857"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/627857\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/627895"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=627857"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=627857"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=627857"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}